There are a few feed methods for ammo on links/belts/stips.
a) Pull out then chamber, such as MG08, Vickers, 1919. These actions need more space as the extracted rounds needs to move a few inches up or down to chamber the round.
b) Push thru then chamber, such as MG42, M60, SAW. The round is pushed out and the next round is set up before the chambered round is fired. Note there are no push thru belt action as the belt would cause problems.
c) Combined pull and/or push. A stripper fed action can pull or push the round out. One particular action actually puts the emptied case back into the stipper clip and eject the spent rounds with the stripper clip as one unit.
If you want to design around the 223 round, then the SAW links is the best choice and it is designed for push thru. If you use the .45ACP round, it would be a big savings on ammo costs and the cheap M60 links would work.